Pueblo Viejo Pays Another $185 Million in Taxes, Bringing Its Total Cash Distribution to the Dominican Government to +$2 Billion
SANTO DOMINGO, April 24, 2020 - In the first four months of 2020, Pueblo Viejo Dominicana Corporation, operator of the Pueblo Viejo gold mine, has paid $185 million (approximately RD$9,870 million Dominican pesos) in direct taxes and $9 million in indirect taxes to the Dominican Government. These payments include advances of income taxes, net profit interest and royalties on the sales of gold and silver paid in the first quarter of 2020, as well as the final settlement of the 2019 fiscal year.
In an early payment this month to help contribute to the stability of the Dominican economy and aid the country in combatting and containing the spread of the Covid-19 pandemic, Pueblo Viejo paid $113 million (equivalent to RD$6,120 million Dominican pesos) to the Internal Tax Collector (DGII), despite the Dominican Government extending its deadline for certain tax declarations. This brings Pueblo Viejo’s total tax payments to the Government to more than $2 billion (equivalent to RD$93,776 million Dominican pesos) since 2013.
Pueblo Viejo's exports in the first quarter of this year represented 37% of the country's total exports of national goods, with a value of $399 million of a total of $1,081 million1.
Pueblo Viejo has been supporting actions to mitigate the impact of Covid-19 in the country and the communities near its operations. To this end, it has committed nearly $1 million (equivalent to RD$53 million Dominican pesos) to various initiatives, including the donation of face masks, latex gloves, gowns, hats and antibacterial gel, delivery of non-perishable food kits to nearby communities, and the donation of 53,000 gallons of ethyl alcohol.
“Our aim is to continue contributing to the social and economic development of the Dominican Republic by applying our sustainability philosophy to create long-term value for all our stakeholders, especially the government and people of the Dominican Republic,” said Barrick Pueblo Viejo President Juana Barcel?.
About Pueblo Viejo
Pueblo Viejo is located in the Dominican Republic, approximately 100 kilometers northwest of the capital city of Santo Domingo, and is operated by the Pueblo Viejo Dominicana Corporation — a joint venture between Barrick (60%) and Newmont (40%). Development of the Pueblo Viejo project started in 2009, with first production in 2012. The company’s workforce is 97% Dominican. Earlier this year, the conversion of the mine’s Quisqueya 1 power plant to natural gas was successfully commissioned. This will cut greenhouse gases by 30% and nitrogen oxide by 85%, further reducing Pueblo Viejo’s impact on the environment. An agribusiness project is also planned as an additional benefit for the local communities.
Enquiries:
Investor and media relations
Kathy du Plessis
+44 20 7557 7738
Email: barrick@dpapr.com
Website: www.barrick.com
Endnote 1
According to the March export report issued by the Export and Investment Center of the Dominican Republic (CEI-RD, in Spanish).
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